In 10 Years Bitcoin Payments Will Be Common
In ten years, bitcoin payments and cryptocurrency in general will be the most popular way to pay for goods and services. This is the conclusion of a team of researchers from Imperial College London and the investment platform eToro, having published a report on this occasion, “Cryptocurrency Overcoming Barriers to Trust and Acceptance.”
The research team believes that for the general acceptance of cryptocurrencies, it is necessary that they consistently perform the functions of a store of value, as well as that they are suitable as a medium of exchange and a unit of account. In addition, researchers are already confident that the cryptocurrency already has the properties of a store of value.
As the report highlights, “meeting the last two criteria will require bitcoin and other digital currencies to make progress on remaining issues such as scalability, user experience, and regulation.”
eToro CEO Iqbal Gundam notes:
“The first e-mail was sent in 1971, but it took almost 30 years for this progress to adapt, for the technology to become commonplace. The first bitcoin transaction in history was recorded a little over 8 years ago, today we are already showing that it is beginning to equal the requirements for fiat. In our opinion, bitcoin and cryptocurrencies in general will be generally accepted within the next 10 years. Naturally, there are barriers on the way to this, but they are surmountable for cryptocurrency.”
Recently, the main cryptocurrency is experiencing not the best of times. This situation seriously worries the cryptocurrency community, which is seeing a depreciation not only of bitcoin, but of all other digital currencies. What happened? Let's figure it out.
Recall that the world's largest company Western Union, which provides money transfer services, has developed and patented a method that improves the security and reliability of payments in electronic form.
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